Theo Epstein Contract With Chicago Cubs: Five-Year, $15 Million Deal, According to Report

FORT MYERS, FL - FEBRUARY 19: General Manager Theo Epstein of the Boston Red Sox watches the team during a Spring Training Workout Session at the Red Sox Player Development Complex on February 19, 2011 in Fort Myers, Florida. (Photo by J. Meric/Getty Images)

Theo Epstein's new deal with the Chicago Cubs is reportedly worth $15 million over three years.

Theo Epstein's new position with the Chicago Cubs will pay him $15 million over five years, according to a report from Sports Illustrated's Jon Heyman. The deal will reportedly also include a $3.5 million "transfer buyout."

The Red Sox will be compensated for allowing Epstein to leave, but the compensation has reportedly not yet been decided. There is a discussion whether the Red Sox will receive cash or minor leaguers, but Boston reportedly prefers the money.

Epstein was the youngest general manager in Major League Baseball when he originally took the Red Sox job on Nov. 25, 2002. After helping the Red Sox win the 2004 World Series title in 2004, Esptein briefly resigned from the Red Sox, only to return a few months later as GM and Executive Vice President, orchestrating another World Series title in 2007.

For more Red Sox coverage, visit our team page, or our blog Over the Monster.

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